By Tarik Bouziane Founder & Managing Partner, Acconcil
Every month, the Acconcil Chronicle reads Morocco's tax, financial and regulatory news with a single aim: to help you decide with full knowledge of the facts. This first issue is devoted to the draft Finance Act for 2027.
Friday 23 October 2026, Rabat. Before both Chambers of Parliament sitting in plenary session, the Minister of Economy and Finance, Fouzi Lekjaa, presented the draft Finance Act for 2027. The text would commit the country through to 2031 on one of its most sensitive reforms: personal income tax.
It is still a draft. Parliament will debate it and may amend it before adoption, expected in December. Its direction is nonetheless clear enough for every director to start preparing now.
What changes for employees
Personal income tax would fall gradually, from 2027 to 2031.
- No tax up to MAD 60,000 of net taxable income a year, from 1 January 2027, against MAD 40,000 today — around MAD 5,000 a month.
- A top rate brought down from 37% to 30%, in stages, by 2031.
- A 10% band widened every year, up to MAD 150,000 in 2030.
Scale targeted for 2031 under the draft; the intermediate stages remain to be confirmed.
| Annual net taxable income | Rate |
|---|---|
| Up to MAD 60,000 | 0% |
| MAD 60,001 to 150,000 | 10% |
| MAD 150,001 to 500,000 | 20% |
| Above MAD 500,000 | 30% |
For employers, gross salary and employer cost would remain unchanged: it is the net paid to the employee that would rise. Payroll software would need to be updated from January.
What changes for certain companies
The draft also provides for a stronger contribution from several sectors.
- Hydrocarbon distribution. Corporate income tax would rise from 35% to 40% for importers and distributors whose net profit reaches MAD 100 million.
- High-value vehicles. Stamp duty on new cars above MAD 400,000 excluding VAT would be raised: 6%, 12%, 18%, and up to 24% above one million dirhams.
- Import for resale as is. From 1 July 2027, a 5% payment on account of tax would be levied on the customs value of goods, at the time of clearance. It would apply for sixty months from the first import, then only to importers without a tax compliance certificate less than six months old. It would remain creditable against corporate or personal income tax. Capital goods and customs economic regimes would be excluded.
- Tobacco and vaping. Taxation would be raised, including a MAD 100 levy per electronic cigarette.
Other measures to watch
- VAT withheld at source: a supplier could claim a refund of VAT over-withheld by its client, which would ease its cash position.
- Property development: a new optional VAT regime would be opened to dealers in real property.
- 2030 World Cup: from 2027, a specific tax regime would temporarily exempt FIFA, the organisers and certain designated service providers.
- Bringing informal activity in: workers who register for professional tax in 2027 would only be taxed from their registration date.
- Registration of old deeds: a deed presented after ten years would be taxed at the current rate, without penalties or surcharges.
Our recommendation
A finance act is prepared for before it takes effect, not after. Between now and 31 December, two steps seem essential to us.
- Directors: simulate your people's new net salary. Announced by the company itself, that increase would become a retention lever.
- Importers: measure now the effect of the 5% payment on account on your cash position, and make sure your tax compliance certificate is up to date.
About Acconcil
Founded in 2001 by Tarik Bouziane, Acconcil works from Casablanca with family businesses, growing mid-sized companies and subsidiaries of international groups. The firm brings together eight disciplines under one roof.
- Audit & Assurance. Statutory audit, contractual audit and acquisition audit.
- Accounting & Financial Reporting. Bookkeeping, financial statements and IFRS reporting.
- Transaction & Advisory Services. Due diligence, valuation and support through complex transactions.
- Technology Services. Information systems audit, ERP, cybersecurity and data protection.
- Tax & Legal Services. Tax advice, securing returns and support during tax audits.
- Risk Advisory Services. Internal control, risk management and regulatory compliance.
- Corporate Finance. Financing, balance-sheet transactions and the decisive stages of company life.
- HR Services. Payroll, registrations and people matters, secured by one team.
Next month
Next month, the Chronicle will take up a question many directors would rather put off: how to prepare calmly for a tax audit.
The measures presented are those of the draft Finance Act for 2027, tabled in Parliament on 23 October 2026. They may be amended before final adoption. This article does not constitute personalised advice.